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Every digital business is looking for conversion, and every professional digital marketing strategy has to work thoroughly with the CRO or Conversion Rate Optimization . CRO means nothing more than optimizing all the conversion rates or interactions that lead the web user to fulfill the final objective: a qualified lead or a sale.

In a global scenario where digital competition is increasing, where a large majority of the market focuses its investment and effort on push strategies for acquisition or acquisition. I invest in multichannels and multiplatforms: social Ads, Google Ads, Bing, RTB (real time Bibbing) or programmatic advertising, Ads Server platforms …. a qualified user is worth its weight in gold.

For this reason, brands are focused on that user ending up finding what they are looking for, at the right time, at the right time and with the right message.

But let’s not give more detail and let’s begin to break down everything that the CRO concept implies.

What is CRO or Conversion Rate Optimization

CRO is the acronym for “Conversion Rate Optimization”, which translated means conversion rate optimization. This encompasses a set of techniques and methodologies whose main objective is to improve the performance of a digital business, improving the different conversion rates generated by each user interaction on the brand’s website.

And here lies its importance, since the CRO helps to consolidate and convert that web traffic, that digital user, into an end customer.

Therefore, the CRO is a methodology that is built by defining a professional CRO Strategy and subsequently developing a tactical part based on data analysis, testing, content customization and continuous change with professional tools.

Steps to define a professional CRO Strategy

The online marketing needs to make things right, and therefore needs to build a strategy, using a methodology and use professional tools. I will never tire of repeating it.

The CRO Strategy allows, through analysis and investigation of web user behavior, to establish new lines of action that improve this achievement of the web conversion objective established by the brand. This is achieved thanks to the use of advanced analytics, content customization and testing techniques, applied to the context of web behavior to detect strategic opportunities.

As it is a precise Strategy, define as a minimum:

The objectives at CRO level or Conversion Rate Optimization. Defining the objectives will help us to focus so as not to disperse.

The type of tarte or buyer persona, it is normal to start analyzing customers and categorize and / or segment them by potentiality.

An action plan and timing that help achieve the set objectives.

And finally a budget, in human and financial resources.

In these types of projects, agile and scrum methodologies are increasingly used, but we will tell you about this in another post.

Advantages of applying a CRO strategy.

Therefore if we execute a professional CRO Strategy this will help us to:

– Detection and correction of inefficiencies and errors.

– Understand the real conversion process (conversion path) of the user and client.

– To formulate hypotheses that help us to propose “best scenarios” for conversion, step by step.

– Testing of the actions launched, their validation and implementation of those with winning results (best indicators in the experiment).

– Improve the final conversion ratio of the digital product / service.

– Improve the profitability of the brand.

Phases of a CRO Strategy

To summarize in a way that we can all understand, a CRO Strategy would be divided into three main phases of execution:

1. Obtaining relevant information

This consists of having the web fully monitored with tools such as Google Analytics, Tag Manager, Yandex, Hotjar … in order to find those points or low-performance interactions. Here the key is to have quality data at a quantitative and qualitative level.

It is essential to know how to establish what metrics we have to measure (bounce rate, session duration, scroll rate, click on CTA …) and what KPIS we have to establish and monitor. With this, it is recommended to build a control panel in real time per acquisition channel, the easiest to do in Data Studio.

Based on the data, we will analyze users to understand how our typical client behaves and why. In other words, we will also analyze the context and type of customer or buyer person. Extracting patterns and insights from the analysis.

2. Action plan in Conversion Rate Optimization

Once analyzed and with all the high value information on the table, it is necessary to design what actions, in what order of priority and in what depth they will be executed to improve the performance of the conversion.

At this point creativity and innovative ability to solve the problems users are having is important. From changing the color of a CTA or reservation form (simple testing example) to modifying the home page for the recurring user or returning visitors depending on the type of profile and the content that they have previously consumed.

3. Submit the CRO shares to a validator test

Once defined what, why and how it is going to be done, it is time to validate that the decision making is correct.

Here comes A / b testing, Split testing, multivariate …

The goal is to learn about them, locate patterns, and identify opportunities that improve business profitability and optimize the conversion path. Once it is decided which actions have obtained the best result, it is time to move it to production.

This process is circular and feeds back, being constantly in motion, analyzing, launching, testing, improving to re-analyze, test and production.

Once the set of problems or inefficiencies have been resolved, we move on to the next one.

Conversion Rate Optimization and Business Intelligence

Companies that invest significantly in digital are involved in developing Business Intelligence projects. This means that data is increasingly important for profitability-oriented business decision making.

In this sense, the CRO has also been affected, especially depending on the type of analysis to be carried out. Therefore if we apply CRO methodologies we can do it in 6 different phases that we will detail below.

1. Descriptive and retrospective analysis based on historical data from the past.

In other words, what products did the customer buy, how many customers had left by type of buyer person , seasonality of sales for brand promotional campaigns.

2. Establishment of a diagnosis.

That is, understand why and establish cause-effect relationships. For example, because a type of customer buys a certain type of product or services and not another. In this process, analysis dimensions are added.

3. More complex analysis through simulation.

For this we design hypothetical action scenarios. What would happen if we changed the position of a product in the purchase line or if we added a new complementary product line on the web for our most profitable buyer person in order to cross sell.

4. Through simulation and experimentation we enter the world of predictions.

That is, being able to forecast certain behaviors based on certain variables. What clients in my portfolio will leave next month and what will be their reasons.

The digital world makes it possible to carry out experiments and predictions using machine learning techniques, complex algorithms and Business Intelligence (BI).

5. To be able to make prescriptions.

In other words, act on the client himself to obtain the predefined results of the brand. Identify groups of clients that meet certain conditions and apply retention or loyalty strategies to them, assessing the estimated success.

6. Get ahead of what the client will demand of us in the future.

For example, which customer is thinking of leaving and what am I going to offer him so that he doesn’t.

Rate Optimization Conversion Example

Let’s imagine that we have an e-commerce that sells urban mobility products, such as scooters and electric bicycles.

The CMO decides that the time has come to apply CRO, the online business has been in the market for two years and will end the year with net sales of 324,000 euros. Until now they have been capturing and capturing traffic, working the conversion rates by phase of the sales funnel in the last section (purchase process). They have been improving the design to make it more “usable” but facing the new year it needs to improve figures.

One of the possibilities that it manages is the optimization of the conversion rates. Currently its website has a rate of 0.12%. Of the 60,000 monthly visitors, on average 70 end up buying. An average ticket of 450 euros. The CMO has thought that if it manages to optimize the final rate by two points, it will sell 100 more units with an increase of more than 50,000 euros the first year.

Objectives to be defined for Conversion Rate Optimization

– Reduce overall bounce rates by 15%

– Increase the average time on page by 1 minute.

– Reduce cart abandonment rate by 12%

– Convert 10% more blog readers into end customers.

For this, it will focus on the following audiences:

– Blog reader, middle class profile, who has read more than 2 posts and has done at least 50% scroll with a page time of more than 2 minutes.

– The profile of the PPC campaigns that end up leaving in the purchase process (cart).

What Conversion Rate Optimization Actions Could Be Designed

– Inclusion of CTAs and promotional banners in strategic posts to improve conversion. What they visit the most they have or where the user is more time or those that are related to the product to sell.

– Improvement and simplification of the purchase process, the part of adding to the cart and continuing.

– Basic personalization of content for the recurring user at a multivariable level.

How we execute Conversion Rate Optimization actions

– For the CTA part, establish different A / B testing with different CTAs and banners. With two lines of experimentation CTA and contextual banner (within the post) and in the rigth side bar.

– For the purchase process testing with small modifications to improve the process step by step. Change button color, be able to continue shopping or finish shopping, buy as a guest user….

– Personalization could be something simple (with Data Lyer), identifying whether it is a man or a woman and what product you have visited where you have complied with the stipulated rules (page time, scroll, click …). In this case, when entering the main HOME of the brand, this content would be shown to each user.

This process would be fed back to improve each interaction, optimizing each conversion rate.
CRO and UX

CRO and UX

If you are reading more and more posts about CRO or about UX (user experience) you will have noticed that there are two terms that go very hand in hand, which must be complemented and understood to be efficient.

When we plan that our website converts more, it is inevitable that we end up also working on the user experience and the user interface or UI. This means that for the web user, navigation should be as simple as possible, clean, explained, finding what they are looking for in the shortest possible time and with the least number of clicks.

Brands want that visit to end up being a satisfactory shopping experience. Do you know the Glovo app? When choosing your favorite dishes from the chosen restaurant, the steps are very simple. Top menu with food categories, you scroll and you go through the entire menu. By giving the + sign you add to the cart that is always seen on the right side, with price and VAT included. Once you finish you choose how you want to pay, card or cash and that’s it. In 5 minutes your order is underway.

Therefore, the CRO seeks to optimize each conversion rate based on data and testing. The UX tries to improve the web experience with designs and functionalities. They both need each other and feed each other.

From my point of view, CRO and UX must go hand in hand to help achieve the brand’s conversion goals on a digital level. Working in parallel the impact on the results is exponential.

 

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